Bitcoin: Analyst points out “unmistakable sign” of sell pressure

The whale count has surged since the interest shown by TradFi giants.

These influential investors, by virtue of holding a large chunk of BTC’s circulating supply, contribute significantly to price fluctuations through their transaction activity. Whale movements have thus become the subject of intense analysis over the years, assisting traders and analysts to spot periods of bull and bear market.from prominent blockchain analytics firm CryptoQuant drew attention to an intriguing whale behavior that could have implications for the market in the coming days.

The Exchange Whale Ratio stays below 85% in a bullish market, while when bears are dominant, this indicator trends above 85%. In the aforementioned example, the ratio has been moving in the 85%-90% for almost a week now, a giveaway that price drops could be around the corner.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin July 20 daily chart alert - Choppy and sideways
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

What to expect as Bitcoin shows signs of decoupling from U.S. DollarBitcoin's historically observed inverse relationship with the USD has mostly dissipated in 2023, dropping from -61% to -10 YTD.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Spot Bitcoin ETF applications published in Federal Register, SEC review beginsThe recently filed spot Bitcoin ETF applications have been officially published in the Federal Register, giving the SEC up to 240 to approve or deny the products.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Peter Schiff is proud: Spencer says Bitcoin will 'probably fall to zero'Spencer Schiff, the son of gold bull Peter Schiff, now agrees that Bitcoin is likely headed to zero, but has a difference of opinion on why, saying AI will transform the world.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »